AstraZeneca has agreed to spin off its Swedish gastrointestinal research unit into a new VC-backed company called Albireo. Nomura Phase4 Ventures is leading the spinout, with TVM Capital and Scottish Widows Investment Partnership also participating. The firms have committed $27 million to a Series A round that is expected to top out at $40 million. AstraZeneca will retain a “significant minority equity interest” in Albireo, plus a seat on its board of directors.
AstraZeneca and Nomura Phase4 Ventures today announced the signing of a deal to form Albireo, a company focused on developing new treatments for gastrointestinal (GI) disorders.
Albireo, based in Gothenburg, Sweden, has secured one clinical and a number of pre-clinical GI programmes from AstraZeneca as well as several researchers with extensive experience in AstraZeneca's GI Research Area. The spinout is a result of AstraZeneca's previously announced strategic decision to concentrate on Nexium